Most of the companies offer Mediclaim facilities to their employers through Group Insurance.Company have a contract with some insurance company for certain period with certain terms and conditions.

so this is a Group insurance through which your employer is covering you for mediclaim.But important point is whether you are completely dependent on this mediclaim facility offered by your employer and do you need some separate mediclaim which can cover you and family.

Basically, Hospitalization is big risk towards erosion of saving and today we have looked at the aspect why one should have its own mediclaim though you are covered by your employer:

Mediclaim Offered By Employer Is Not Permanent:This is very much important reason.Mediclaim facility offered by company is not permanent and any modifications or contractions in existing facilities are possible.It will available for you till you are associated with company.Few companies cover its employee only and not cover other family members like spouse,parents or childrens.In such cases,your family members can get exposed towards the expenses of hospitalization.Also Group Insurance contract is renewable after certain period of time and one can not guarantee that it will be renewed with same facilities.So important point is Mediclaim facility can not be permanent and if one l0ose job due to some reason ..tend to loose the mediclaim facility.

Certain illnesses require at least continuous coverage of 3 or 4 years to eligible for Reimbursement: This is very important reason why one should not have any break in its mediclaim policy.Certain Day care processes (E.g Cataract ) or other procedures like Knee Joint replacement require continuous mediclaim coverage for at least 03 or 04 years otherwise such illness come in the category of Pre-Existing Illness and generally claim is denied in such cases.So to avoid break ,one should have its own mediclaim policy which will ensure that you will continuously covered for the said waiting period for certain costly procedures.

Mediclaim Portability Issue: Mediclaim portability is a facility where one can switch over to other insurance company having similar features.As stated above,for certain illnesses to get covered one need to have covered for at least 03-04 years to be eligible for claim.There will be an issue if you are previously covered by employer through Group Insurance and not able to submit any proof regarding it.

finally, its necessary to opt for own Mediclaim plan… as cover from your employer may not fulfill your requirements and due to having own mediclaim policy one can ensure that he or she can protect self from expense risk due to hospitalization any point of time.